CHAPTER 6 LIFE INSURANCE

Marital status

All of these are considered key factors in underwriting life insurance EXCEPT

Disclosure authorization response

All of these are typically sources of underwriting information for life or health insurance EXCEPT

Blood test for HIV

An insurer has a right to screen applicants for HIV in which of the following ways?

6

How many months can a life insurance policy normally be backdated from the date of application?

genetic testing

Underwriters can acquire information from all of the following sources EXCEPT

Completing all applications and collecting initial premiums

Which of the following would be considered an underwriting duty of an agent?

an economic interest exists for the continuance of the insured's life

An individual most likely will have an insurable interest in insuring a person's life if

preferred risk

An insurance applicant with a below-average likelihood of loss is typically considered to be a

an initial made by the applicant

A change in an insurance application requires

to ensure an applicant's medical information is accurate and complete

A field underwriter's main task is

Making the policy effective on an earlier date than the present

What is involved when a life insurance policy has been backdated?

Insurer

Which of the following signatures is not required on an individual insurance application?

Number of children

Which of these is NOT considered to be a risk factor in life insurance underwriting?

Policy summary

Which of these is considered to be a document that describes the critical segments of a life insurance policy?

Preferred

A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification?

fraud

An applicant intentionally lying to an insurance company on an application in order to obtain a cheaper premium is an example of

At the request of the insurer to assist in the underwriting decision

An attending physician's statement would be appropriate for which life insurance purpose?

National Association of Insurance Underwriters (NAIU) The National Association of Insurance Underwriters is NOT a source of information that may aid an underwriter in determining whether to underwrite a risk.

All of these are considered sources of information that can assist an underwriter in determining whether or not to accept a risk EXCEPT

better than average mortality or morbidity experience

Preferred risk policies with reduced premiums are issued by insurance companies because the insured has

To help underwriters evaluate risk

What is the purpose of the Medical Information Bureau (MIB)?

INSURER

Which of the following signatures is not required on an individual insurance application?